Suncrest Bank Receives Regulatory Approval for its Merger with Security First Bank

VISALIA and FRESNO, Calif., Nov. 21, 2016 /PRNewswire/ -- Suncrest Bank (OTCQX: SBKK) today announced that it has received regulatory approval for its merger with Security First Bank (OTCPink: SFRK) subject to certain closing conditions.

The transaction combines two local community banks with strong customer relationships in their neighboring markets of Visalia and Fresno, and approximately $457 million in combined assets. "We are delighted to have received the requisite regulatory approvals at this time and look forward to completing our merger prior to the end of the year," said Mr. Ciaran McMullan, President and CEO of Suncrest Bank. "We are grateful for all the effort the staff and advisors of both institutions have put forth thus far to bring this merger closer to a reality," said Mr. Steve Jones, President and CEO of Security First Bank.

Suncrest Bank is headquartered in Visalia, CA, with approximately $353 million in total assets at September 30th, 2016 and operates four branches located in Visalia, Porterville, Yuba City and Kingsburg. Security First Bank is headquartered in Fresno, CA, operating one branch with approximately $104 million in total assets at September 30th, 2016. The combined bank will continue to operate all five branches under the Suncrest Bank name, offering increased lending capacity, an expanded product set, and the same outstanding level of customer service. Suncrest Bank President and CEO, Mr. Ciaran McMullan will continue as the President and CEO of the combined bank following the completion of the merger, and Security First Bank President and CEO, Mr. Steve Jones will join the newly combined organization as its Chief Operating Officer.

About Suncrest Bank

Suncrest Bank, member FDIC, is locally owned and operated and offers a full range of commercial, small business and agribusiness loans, cash management services and personal deposit products throughout the Central Valley of California. It is regularly rated Five Stars by Bauer Financial as one of the nation's strongest financial institutions, and in 2015 for the second straight year, was named in the top 200 Healthiest Banks in America by analysis firm, DepositAccounts.com. It is a Preferred Lender with the Small Business Administration and its stock can be purchased on the open market, trading on the OTCQX under the ticker symbol SBKK. For all other information, visit www.suncrestbank.com

About Security First Bank

Founded in 2007 by local investors, Security First Bank is devoted to providing superior banking products and services at competitive rates while maintaining personal banking relationships. Security First Bank's primary goal is to help businesses be more successful, productive and efficient by providing personal one on one service, financial expertise and the latest banking technology. Security First Bank is a solid and secure financial institution that puts the customer first and works hard to deliver exceptional results. Additional information can be found at www.securityfirstfresno.com.

Forward Looking Statements

Except for the historical information in this news release, the matters described herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and charge-offs, results of examinations by our banking regulators, our ability to maintain adequate levels of capital and liquidity, our ability to manage loan delinquency rates, our ability to price deposits to retain existing customers and achieve low-cost deposit growth, manage expenses and lower the efficiency ratio, expand or maintain the net interest margin, mitigate interest rate risk for changes in the interest rate environment, competitive pressures in the banking industry, access to available sources of credit to manage liquidity, the local and national economic environment, and other risks and uncertainties. Accordingly, undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. Suncrest Bank undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Investors are encouraged to read the Suncrest Bank annual reports which are available on our website.